In the construction and renovation of commercial and residential buildings as well as in various manufacturing operations, it is often necessary to perform repeated drilling and driving operations. For example, a hole is drilled into a wall or ceiling surface and then a screw or similar fastener is driven into the drilled hole. U.S. Pat. Nos. 4,512,693 and 4,676,703 are illustrative of tools that can be attached to a power drill to allow this drill to both drill a hole and drive in a screw or other type of fastener.